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ONLINE ADVERTISING TRENDS
There is no question that the growth of Internet advertising is outpacing offline advertising. As more and more companies realize the real value in advertising their goods and services online, they are diverting funds from other forms of offline advertising to compensate. Consequently, the market share of Internet advertising is continually growing while the market share of offline advertising mediums stagnates or declines.
At the current rate of growth, Internet advertising will overtake radio advertising in spending and market share in just a few years. While outdoor advertising is also experiencing growth, it is not growing as rapidly as Internet advertising, and Internet advertising has already overtaken it.
The dominant forms of offline advertising, television, newspapers and magazines, still hold the lion share of the market, but their market share is expected to decrease slowly over the next few years. Some estimates predict Internet advertising will hold as much as 10% of the global advertising market share by 2009.
There are several different types of Internet advertising that are contributing to the overall growth of this ad medium. Search advertising, display advertising and classified advertising are the three most popular forms of Internet advertising. Of them, search advertising has the majority of the market share with display coming in second.
However, as more and more classified ads move from print media to online, that market share will likely grow. Likewise, as more innovations are developed in the display category, search advertising might lose some of its market share in the coming years. The growth in Internet advertising is due to two different factors, more advertisers moving promotions online and the growing penetration of the Internet itself. Because the Internet is still a relatively new medium when compared to other long established advertising mediums like newspapers and television, advertisers have not yet realized the full potential for gain.
Even in developed markets, ad budgets don't even come close to matching consumption rates. This shows how much room for growth Internet advertising really has. While there is no way to guarantee these predictions, the current trends bear them out. Market share for Internet advertising will surely continue to grow rapidly over the coming years.